§ 991. Interest accrual relief for additional tax attributable to newly-discovered abandoned property. Notwithstanding any other provision of law, in computing the interest due on an addition to tax owed by an estate attributable to the inclusion in the estate's federal gross estate of an asset held by the comptroller as abandoned property, the commissioner shall apply the interest rate used by the comptroller, pursuant to section fourteen hundred five of the abandoned property law, in computing the interest due on such abandoned property while in the comptroller's possession (including a zero rate if the comptroller did not pay interest on such property) if, as of the date prescribed for the filing of a return required by this article, including any extensions granted for filing, information pertaining to the asset had not yet appeared in the public records of abandoned property required to be maintained by the comptroller pursuant to section fourteen hundred one of the abandoned property law.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.